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One company claims to have created the first decentralized machine learning platform on blockchain, offering organizations of all sizes the opportunity to discover new models in their data, predict when sales will be made and increase clickthrough rates from customers.
According to GNY, its main motivation when it was established in 2015 was to find a way to "a large amount of digital data left by people to organize and analyze to provide business solutions, marketing and social impact."
GNY founder and general manager, Richard Jarritt, explained: "It was one of our goals to bring blockchain thinking forward – far from thinking as a rigid structure of linear events." What could you do if you had brought a chain the ability of the programming software? "As a result, the team produced a technology that can analyze protected data in real time and adapt to a person's behavior as it progresses and changes.
machine learning algorithms that work in tandem with each other and responding to millions of independent variable functions, GNY says it can solve various business problems such as fraud in the insurance industry, views in publications and predict how a user will behave in retail.
"We have been testing the predictive platform with great success over the last two years and we are currently working with insurance companies, financial services companies, resellers and salespeople. We think that the application of this technology can go even further", the founder of GNY Cosmas Wong told Cointelegraph.
GNY states that its intelligent APIs have been combined with a universal operating language, and this allows developers from all walks of life to "easily access the power of machine learning." The company claims that its ecosystem has Successfully tested cross-chain transactions for Bitcoin, Asch and Ethereum. In the future, the company intends to bring machine learning power to be decentralized through its DPOS network, designed by Tom Lorenc, an expert technology and data scientist, and Leo Liang cryptography developer.
"Guesstimating" the consumer [19659008] Cosmas Wong explained in a recent article on Silicon Review that the system is able to predict the purchasing habits of a consumer based on what he has done in the past. Apparently irrelevant data such as location and time of day when a purchase was made can be used to "guess" what they will do when presented with future purchase opportunities.
Wong says that one of the most powerful features of GNY is the ability to correct itself. If a buyer does not purchase a product recommended to him, the system recalculates and presents an alternative to the consumer.
GNY has placed the accent on being "non-intrusive, effective and efficient" – and says that its platform has great potential in transforming our daily lives, protecting data security and privacy .
Supporting charities and NGOs
GNY says it is determined to ensure that its machine learning technology also has a positive social impact. To encourage social enterprises to engage technology, the company has launched an initiative called the Magic Wish Technology Grant. The grant will be awarded to different organizations every two years and will provide them with the complete custom services of GNY fully pro-bono to help them solve "pressing and complex data problems".
GNY announced that the first organization to receive this grant is the Child Rescue Coalition. The non-profit is helping to save children from sexual abuse by developing free technologies that the forces of order can use to track down and arrest predators. According to the CRC, its system has led to the arrest of over 10,500 criminals, with over 2,400 young victims rescued. His website goes on to state that its technology is already in use across the United States and in 84 countries around the world.
The company is planning to announce its second partner Magic Wish soon.
The GNC ERC-20 token will be presented during the platform's initial offering – on 3 September – giving token holders the opportunity to make the most of GNY's machine learning capabilities. During the first two phases of the offer, 200 million tokens will be available for the ecosystem.
The company claims that ICO is the first utility token to launch in Jersey. Richard Jarritt says the Channel Islands have been chosen for its stable and flexible structure to encourage quality ICOs.
According to GNY, her team has extensive experience in machine learning and blockchain – and its workforce is based in the United Kingdom, Asia and Asia in the United States. In a development that GNY says distinguishes it from other initial coin offerings, its decentralized blockchain is patent pending in the United States.
Exclusion of responsibility. Cointelegraph does not endorse any content or product on this page. While we aim to provide you with all the important information we could obtain, readers should do their research before taking any action related to the company and bring full responsibility for their decisions, nor can this article be considered as an investment advice. .
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